Banks

The Inter-American Development Bank (IADB) priced its inaugural Kangaroo EYE bond this week. This issue was the product of more than four years of promoting the bond programme to domestic Australian investors, said Laura Fan, principal funding officer at the IADB.

Hungry for some social purpose, and perhaps a longer maturity, investors hoovered up Yorkshire Water’s first sustainable bond on Thursday. This allowed the UK utility to tighten the pricing to fair value or even tighter.

Atlas Merchant Capital, the fund founded by ex-Barclays CEO Bob Diamond, has hired Tom King, former chief of investment banking at Barclays.

German defence firm Krauss-Maffei Wegmann (KMW) has signed a €350m loan, joining Port of Rotterdam and FEV Group in the market for similar sized deals amid a wave of mid-market activity in Europe.

Saudi Aramco might have expected a $12bn bond it issued on Tuesday to be hailed as a triumph, coming as it did well inside its sovereign curve after taking orders that at one point reached $100bn. But after pricing, the demand evaporated, the bonds fell below reoffer, and the notion that the European Market Abuse Regulation has ended the practice of order inflation was left in tatters.

Ineos, with a split high yield/investment grade rating, announced a drive-by €770m seven year non-call three bond issue on Monday, refinancing its 4% 2023 bond of the same size.

Nomura’s growth plan in its latest restructuring depends on sweeping away regional fiefdoms while finding greater consistency. History suggests this could be a tall order, writes David Rothnie.

Société Générale has appointed Demetrio Salorio, its global head of debt capital markets, as UK head of global finance, replacing Alvaro Huete.

The International Swaps and Derivatives Association has appointed three new directors to its board, from Eurex, DBS Bank and Nomura.

James Forese is leaving his position as CEO of Citigroup’s institutional clients group. He will be replaced by Paco Ybarra, his deputy. The CEO of Asia Pacific is also leaving.

MünchenerHyp (MuHyp) issued the longest-ever benchmark Pfandbrief on Thursday, tapping into investors’ thirst for yield amid low interest rates. Investors poured into the book, lodging more demand than for any Pfandbrief issued for at least eight years.

GTLK, Russia’s state transport leasing company, printed a $500m six year bond on Wednesday from a book of just over $1.5bn.